Greater Hudson Bank posts $654,000 1st-quarter profit

TOWN OF WALLKILL — Greater Hudson Bank posted $654,000 in profit for the first quarter of 2014, up from $519,000 during the same period last year.

Jessica DiNapoli

TOWN OF WALLKILL — Greater Hudson Bank posted $654,000 in profit for the first quarter of 2014, up from $519,000 during the same period last year.

Increases in interest income and security gains fueled the bank’s jump in profit, according to a news release.

Greater Hudson’s nonperforming assets ballooned over the first quarter to $6.3 million, up from $3.7 million reported at the end of 2013. The rise in nonperforming assets stems from a limited number of loans the bank is trying remediate, according to Greater Hudson.

The bank’s annual stockholder meeting will be held 10 a.m. May 22 at the Salvation Army Conference Center in West Nyack.

jdinapoli@th-record.com

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